What role of RBI is known as âlender of last resortâ?
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RBI is known as Lender of last resortbecause , Banks are supposed to meet their shortfalls of cash from other resources and of the other sources don't meet the demand , then they approachRBI
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Following are the roles of R.B.I ↴
• The Reserve Bank of India supervises the functioning of all Formal sources of loan.
• RBI monitors the banks in actually maintaining the minimum cash Balance that is 15% of total deposits.
• Periodically, banks have to submit information to the RBI on how much they are lending, to whom, at what interest rate, etc.
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